{"id":132973,"date":"2021-07-21T14:23:05","date_gmt":"2021-07-21T14:23:05","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132973"},"modified":"2021-07-21T14:23:05","modified_gmt":"2021-07-21T14:23:05","slug":"marketaxess-sees-slump-in-q2-revenue-and-earnings","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/marketaxess-sees-slump-in-q2-revenue-and-earnings\/","title":{"rendered":"MarketAxess Sees Slump in Q2 Revenue and Earnings"},"content":{"rendered":"<p><span>MarketAxess Holdings Inc. (Nasdaq: MKTX) has published its financial results for the second quarter of 2021, reporting a clump in its business performance. The company operates an electronic trading platform for fixed-income securities and also provides market data and post-trade services.<\/span><\/p>\n<p><span>The company generated total revenue of $176.3 million between April and June, which is 4.6 percent lower year-over-year. Operating income also plummeted to $87.2 million from $104.1 million for the second quarter of 2020.\u00a0<\/span><\/p>\n<p><span>The operating margin for the period dropped to 49.4 percent from 56.4 percent achieved in the same quarter a year ago. The net income of the public company followed other metrics and came in at a total of $67.3 million or $1.77 per share on a diluted basis.<\/span><\/p>\n<p><span>\u201cSecond quarter results were heavily impacted by low levels of credit market volatility in a very tough year over year comparison for MarketAxess,\u201d Rick McVey, Chairman and CEO at MarketAxess, explained. \u201cWe believe the Company\u2019s long-term revenue and earnings growth rates remain on track.\u201d<\/span><\/p>\n<h2><span>Non-Commission Business Is Gaining Steam<\/span><\/h2>\n<p><span>The company detailed that its revenue from the commissions dropped 9.1 percent to $156.4 million, which includes $1.1 million generated by subsidiary MuniBrokers.\u00a0<\/span><\/p>\n<p><span>Interestingly, the non-commission revenue of the company, which is generated from information services, post-trade services, and a few other streams, increased to $19.9 million, compared to $12.7 million for Q2 2020. Meanwhile, the total expense of the firm also increased by 10.5 percent.<\/span><\/p>\n<p><span>\u201cWe are excited about the progress we are making in our international business, emerging markets, municipal bonds, and new trading protocols,\u201d McVey added. \u201cWe believe our investments are creating a much broader foundation for future growth that will be evident when more normal levels of volatility return to fixed income markets.\u201d<\/span><\/p>\n<p>Source: <a href=\"https:\/\/www.financemagnates.com\/institutional-forex\/marketaxess-sees-slump-in-q2-revenue-and-earnings\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MarketAxess Holdings Inc. (Nasdaq: MKTX) has published<\/p>\n","protected":false},"author":3,"featured_media":132972,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MarketAxess Sees Slump in Q2 Revenue and Earnings - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/marketaxess-sees-slump-in-q2-revenue-and-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MarketAxess Sees Slump in Q2 Revenue and Earnings - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"MarketAxess Holdings Inc. 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